rdian and LaSalle to sell the West Bridge building in Levallois, France

Ardian

Paris, October 22, 2019 – Ardian, a world leading private investment house and LaSalle Investment Management (“LaSalle”), one of the world’s leading real estate investment managers, announce today the sale of their participation in the West Bridge building to a joint venture formed by Amundi Immobilier, la Française Real Estate Partners and the Caisse d’assurance vieillesse des pharmaciens.

Acquired in 2017, West Bridge is an iconic office building located at 145-149 rue Anatole France in Levallois-Perret, France. The 28,000 m2 building is undergoing a major renovation program led by Baumschlager Eberle Architecture. The complete refurbishment aims to reposition it as a grade A building. The building, for which completion is scheduled end of 2020, will include two restaurants, a vast auditorium, two gardens and co-working areas spread over eight floors as well as a rooftop terrace offering a panoramic 360° view. Sustainability focus was at the heart of this project and in line with the strategies of Ardian Real Estate and LaSalle, and as such the building will be certified BREEAM Excellent, HQE Excellent and WELL Gold.

In May 2019, LaSalle and Ardian announced they had signed a 12-year lease with WPP. The agency has decided to set up its new Paris campus in this building.

Stéphanie Bensimon, Head of Real Estate at Ardian, says: “We are very happy to have given a second wind to this iconic building. The lease signed with WPP and the sale to Amundi Immobilier, La Française Real Estate Partners and the Caisse d’assurance vieillesse des pharmaciens bear testament to the success of our joint project and the validation of our strategy.”

Beverley Shadbolt, Country Manager for France at LaSalle, continues: “We are delighted to announce this sale, which marks another decisive step in the redevelopment of West Bridge. The ambitious refurbishment program that we have been carrying out with Ardian since 2017 in an environment which has seen a shortage in the number offers for new assets explain the success of this investment. This transaction perfectly illustrates our expertise in projects with high value creation potential. We will continue to focus on restructuring and building developments in the established markets of the Paris region in the coming months.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT LASALLE INVESTMENT MANAGEMENT

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $67 billion of assets in private and public real estate property and debt investments as of Q2 2019. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk
LASALLE INVESTMENT MANAGEMENT
Patricia Crowley
Head of Corporate Communications, EMEA
+44 (0) 780 166 7547
patricia.crowley@lasalle.com

Categories: News

Tags:

CapMan’s exit from Kämp Collection Hotels has been completed

CapMan Buyout press release
10 October 2019 at 10.15 am EEST

CapMan’s exit from Kämp Collection Hotels has been completed

The competition authority has approved Nordic Choice Hotels’ acquisition of Kämp Collection Hotels from funds managed by CapMan Buyout and other owners. The acquisition, announced in August, was finalised on 9 October. The new owner aims at significantly increasing the hotel supply in Helsinki.

CapMan Buyout X fund invested in Kämp Collection Hotels in 2014. The transaction is the fifth exit from the 2013 fund, which has developed well overall. CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 11 investment professionals in Finland and Sweden and 30 years of industry experience. CapMan Buyout has made a total of more than 80 investments and more than 70 exits since 1989 and it is actively looking for suitable investments for its eleventh fund, which held a first close at €160 million in June 2019.

Additional information:
Tomi Alén, Investment Director, CapMan Buyout, tel. +358 50412 1947

About CapMan
CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of more than €3 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. For more information, please visit
www.capman.com

Categories: News

Tags:

CapMan Real Estate invests in retail and office property in the development area of Grønttorvet in Copenhagen

CapMan Real Estate press release                    7 October 2019 at 9.00 a.m. EEST

CapMan Real Estate invests in retail and office property in the development area of Grønttorvet in Copenhagen

CapMan Real Estate II Fund has acquired a retail and office property with development potential from Chris Invest A/S.

The property has a total of 7,194 sqm leasable area and was constructed as an industrial building in 1959. The property has an attractive location in Valby, next to the 160,000 sqm development area of Grønttorvet. By 2021 the area will include approx. 2,000 residential units and 30,000 sqm office and retail space. A new metro station will be opened in the area in 2024, only a few minutes’ walk from the property.

“The property has significant refurbishment potential and an excellent location at the entrance of Grønttorvet. Our strategy is to redevelop the property into modern retail while respecting the old architecture of the building. We intend to make similar investments in retail and office properties with development potential”, comments Peter Gill, Investment Director at CapMan Real Estate.

The property is the fifteenth acquisition of the €425 million Nordic Real Estate II fund raised in 2017. The focus of the fund is to invest mainly in office, retail and residential properties located in established submarkets of major Nordic cities.

HLM Management has been assisting CapMan Real Estate on this deal and will also be working as an asset manager on the deal going forward.

CapMan Real Estate includes 38 dedicated professionals in the field of investment, asset management and property management. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:

Peter Gill, Investment Director, CapMan Real Estate, tel. +45 20 43 55 63

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg.

Categories: News

Tags:

Blackstone to Acquire 65% Controlling Interest in Great Wolf Resorts and Form New $2.9 Billion Joint Venture With Centerbridge Partners

Blackstone

NEW YORK–Blackstone Real Estate Partners IX, an affiliate of Blackstone (NYSE: BX) (“Blackstone”), and affiliates of Centerbridge Partners, L.P. (“Centerbridge”, the existing owner) announced today that Blackstone is acquiring a 65% controlling interest in Great Wolf Resorts, Inc. (“Great Wolf” or the “Company”). Great Wolf is a leading owner and operator of family-oriented entertainment resorts, with 18 resorts around the country. As part of the transaction, Blackstone and Centerbridge will form a new $2.9 billion joint venture to own the Company.

Tyler Henritze, Head of US Acquisitions for Blackstone Real Estate, commented, “We have been very impressed by the evolution and growth of the company under Centerbridge’s ownership. With the leadership of its talented management team, Great Wolf has enriched the guest experience and opened seven new lodges since 2015. We look forward to investing in these properties to further deliver for guests and grow the company.”

“We are enthusiastic about partnering with Blackstone to continue accelerating the growth of the company,” stated William D. Rahm, a Senior Managing Director and Global Head of Real Estate at Centerbridge. “Blackstone is one of the most experienced and successful investors in the hospitality and leisure industries, and is highly supportive of Great Wolf’s growth potential and each lodge’s ability to provide unparalleled experiences for families.”

Murray Hennessy, the CEO of Great Wolf Resorts, stated, “We are pleased to welcome Blackstone as a new member of the Great Wolf pack and excited to begin the next chapter for our rapidly expanding company. Great Wolf stands to benefit greatly from Blackstone’s world-class insights and expertise in hospitality, and values Centerbridge’s continued involvement as we look to further expand the Great Wolf brand with the development of new resorts and enhancements to our renowned immersive family experiences.”

Advisors
Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are serving as financial advisors to Great Wolf, and Simpson Thacher & Bartlett LLP is serving as legal counsel to Great Wolf.

Fried, Frank, Harris, Shriver & Jacobson LLC is serving as legal counsel to Blackstone.

About Great Wolf Resorts, Inc.
Great Wolf provides safe and immersive entertainment experiences for families in all seasons and all weather conditions across 18 resorts, or “lodges”, in the United States and Canada, with more in the pipeline including a new lodge in Northern California scheduled to open in 2020. Every Great Wolf lodge contains a full-service hotel, expansive indoor waterpark, recreational activities including game rooms, ropes courses, and family bowling alleys, various food & beverage offerings, and themed experiences with proprietary characters unique to Great Wolf. The company has approximately 6,000 full-time employees nationwide.

About Centerbridge Partners, L.P. (“Centerbridge”)
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for our investors and business partners. The Firm was founded in 2005 and as of June 30, 2019 has approximately $27 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives. For more information, please visit www.Centerbridge.com.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Contacts

Blackstone Contact
Jennifer Friedman
Jennifer.Friedman@blackstone.com 
Tel: (212) 583-5122

Centerbridge Contact 
Jeremy Fielding / Anntal Silver
Kekst CNC
jeremy.fielding@kekstcnc.com / anntal.silver@kekstcnc.com 
Tel: (212) 521-4800

Categories: News

Tags:

Blackstone to Buy U.S. Logistics Assets from Colony Capital for $5.9 Billion

Blackstone

Acquisition will continue to expand Blackstone’s strategic presence in U.S. e-commerce logistics

Exit marks a significant step for Colony as it implements plan to focus on digital real estate and infrastructure

LOS ANGELES & NEW YORK & DALLAS–Colony Capital, Inc. (NYSE: CLNY) (“Colony Capital,” or the “Company”) and Blackstone Real Estate Partners IX, an affiliate of Blackstone (NYSE: BX), announced today that they have entered into definitive agreements for Blackstone to acquire Colony Industrial, the industrial real estate assets and affiliated industrial operating platform of Colony Capital, for an aggregate purchase price of $5.9 billion.

The Colony Industrial last-mile light industrial portfolio represents the substantial majority of the total transaction and comprises approximately 60 million square feet of infill, logistics assets across 465 light industrial buildings in 26 U.S. markets, with significant concentration in Dallas, Atlanta, Florida, northern New Jersey, and California. The transaction also includes Colony’s 51% ownership interest in a 4 million square foot portfolio of bulk distribution assets and the affiliated operating platform which manages the properties of both portfolios. The aggregate net sales proceeds to Colony are expected to be in excess of $1.2 billion.

This transaction comprises one of the highest quality portfolios of last-mile logistics assets in the U.S. Colony Industrial was formed in December 2014 through Colony Capital’s acquisition of Cobalt Capital Partners, founded and led by Lewis D. Friedland. Since then, the portfolio has doubled in size and produced strong and consistent operating results.

Darren Tangen, President of Colony Capital, stated, “We appreciate Blackstone has recognized the value that we’ve created at Colony Industrial and they are the ideal steward to lead this business during the next phase of its growth. Lew Friedland and the Colony Industrial team have executed flawlessly, achieving and even surpassing the goals of our original investment thesis five years ago. This sale allows Colony to both achieve compelling returns for our investors and generate significant liquidity, which among other uses, will help accelerate our ongoing transition into digital real estate and infrastructure.”

Nadeem Meghji, Head of Real Estate Americas at Blackstone, stated, “This acquisition of high quality warehouses demonstrates our continued strong conviction in logistics and positive e-commerce trends. As retailers continue to shorten delivery times and expand their last mile footprints, we believe warehouses in dense population centers will continue to experience outsized demand growth.”

Lew Friedland, Managing Director, Head of Colony Industrial, commented, “Last-mile logistics real estate continues to become an increasingly critical component of the global supply chain. We are pleased to have generated strong returns for our investors implementing this strategy and the portfolio and platform are extremely well-positioned for the positive market environment and continued growing demand for last-mile logistics space.”

Each of the agreements is subject to customary closing conditions, including third party consent for the sale of the 51% interest in the bulk industrial portfolio, and is expected to close in the fourth quarter of 2019.

Willkie Farr & Gallagher served as legal counsel, and Morgan Stanley and Eastdil Secured served as financial advisors, and CBRE National Partners served as real estate advisor to Colony Capital. Simpson Thacher & Bartlett served as legal counsel to Blackstone.

About Colony Industrial
Headquartered in Dallas, TX, Colony Industrial is the industrial platform of Colony Capital, Inc. Its portfolio comprises approximately 60 million square feet of owned, developed and under contract logistics warehouse properties in 26 markets across the United States. The portfolio’s diversified tenant base includes major national B2B, B2C, wholesale and consumer businesses. For more information, visit www.clny.com/industrial.

About Colony Capital
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment management firm with assets under management of $55 billion, which includes approximately $14 billion of assets under management from Digital Bridge, a leading global investment manager of digital infrastructure assets including cell towers, small cells, fiber and data centers. The Company manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, and traded and non-traded real estate investment trusts. The Company has significant holdings in: (a) the healthcare, industrial and hospitality property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe Corp. (NYSE: NRE), which are both externally managed by subsidiaries of the Company; and (c) various other equity and debt investments. The Company is headquartered in Los Angeles with key offices in Boca Raton, New York, Paris and London, and has over 450 employees across 21 locations in 13 countries as a result of the business combination with Digital Bridge. For additional information regarding the Company and its management and business, please refer to www.clny.com.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, without limitation, whether the Company will complete the sale of the industrial platform within the timeframe anticipated or at all, including the Company’s ability to obtain any necessary consents for the bulk transaction, the Company’s strategic plans, and portfolio mix, and other risks and uncertainties detailed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Additional information about these and other factors can be found in Colony Capital’s reports filed from time to time with the SEC.

Colony Capital cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. Colony Capital is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and Colony Capital does not intend to do so.

Contacts

Colony Capital: 
Investor Contact:
Lasse Glassen
Addo Investor Relations
310-829-5400
lglassen@addoir.com

Media Contact:
Blicksilver Public Relations
Lisa Baker
914-725-5949
lisa@blicksilverpr.com

Blackstone: 
Jennifer Friedman
Jennifer.Friedman@blackstone.com 
Tel: (212) 583-5122

Categories: News

Tags:

CapMan Nordic Real Estate II leases large industrial space in Eskilstuna, Sweden

August 26, 2019

CapMan Real Estate Press release
26 August 2019 at 9.00 a.m. EEST

CapMan Nordic Real Estate II leases large industrial space in Eskilstuna, Sweden

CapMan Nordic Real Estate II fund has let approx. 11,000 sqm of mixed warehouse, production and office space in Eskilstuna to ASSAABLOY Opening Solutions Sweden AB, the well-known global lock manufacturing company, on a long-term lease.

CapMan Nordic Real Estate II acquired ASSAABLOY Opening Solutions Sweden AB’s office and industrial facility in Eskilstuna in a sale and leaseback transaction in March 2018 last year, where ASSA agreed to take a 3-year lease of the property.  Since then, ASSA has reviewed its long-term strategy and decided to extend its lease on 11,000 sqm for a period of 12 years. As part of the new lease, CapMan Nordic Real Estate II will build a new 1,500 office for ASSA and refurbish the existing warehouse, production and office space.

“We are very excited to sign a long-term agreement with ASSAABLOY, who we think is an ideal tenant for this property given the size and quality of its business and its long history and importance in the local area.  Completion of this lease is the first key step in our business plan for the property and we look forward to further enhancing the property with other projects we are currently working on,” comments Per Tängerstad, Partner at CapMan Real Estate.

Wigge & Partners acted for CapMan in the transaction.

CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, industrial, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate has a team consisting of 38 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Please visit
www.capman.com for more information.

 

 

 

Categories: News

Tags:

Blackstone Completes the Acquisition of U.S. Logistics Assets from GLP, Adding to Firm’s Leading Global Portfolio

Blackstone

New York, September 26, 2019 – Blackstone (NYSE: BX) today announced that it has closed on its previously announced acquisition of U.S. logistics assets from three of GLP’s U.S. funds for a purchase price of $18.7 billion.

As previously announced, Blackstone Real Estate’s global opportunistic BREP strategy is acquiring 115 million square feet for $13.4 billion and its income-oriented non-listed REIT, Blackstone Real Estate Income Trust (BREIT), is acquiring 64 million square feet for $5.3 billion.

Blackstone and GLP announced the transaction on June 2, 2019.

Citibank, Deutsche Bank Securities Inc., BofA Merrill Lynch, J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Wells Fargo, Nuveen and Prudential are providing financing for the acquisition. Simpson Thacher & Bartlett served as legal counsel to Blackstone.

BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc., J.P. Morgan and Morgan Stanley & Co. LLC served as financial advisors to Blackstone. Citigroup Global Markets Inc., Eastdil Secured LLC and Goldman Sachs & Co. LLC served as Blackstone’s financing advisor.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Contact
Jennifer Friedman
Jennifer.Friedman@blackstone.com
Tel: (212) 583-5122

Categories: News

Tags:

CapMan enters Nordic distribution partnership with Nordea

September 25, 2019

CapMan Press Release
25 September 2019 at 1.00 p.m. EEST

CapMan enters Nordic distribution partnership with Nordea

CapMan has commenced co-operation with Nordea regarding the distribution of CapMan Nordic Property Income Fund (“CMNPI”), a non-UCITS fund managed by CapMan. As a result, CMNPI will become part of Nordea’s product offering, enabling their customers to subscribe for the fund in a convenient manner.

CMNPI was established at the end of 2017 and is one of few non-UCITS funds investing in real estate with a Nordic scope. The fund has completed a total of nine transactions to date in Finland, Sweden and Denmark. The fund’s assets are diversified across various property types and its gross asset value has reached EUR 130 million. From the fund’s inception date to today, the fund has returned approx. 13%.*

“This distribution partnership combines two strong brands. CapMan’s long experience in investing in Nordic real estate markets and its alternatives asset class know-how meet Nordea’s strong networks and market leading wealth management practice in the Nordics. CMNPI has had a flying start and the first year for the fund has provided excellent returns.* The expanded distribution enables us to significantly grow the fund size while offering a wider group of investors a cost-efficient way to diversify their real estate investments across geographies and different property types,” comments Mika Matikainen, Managing Partner and Head of CapMan Real Estate.

Following the distribution agreement, CMNPI becomes part of Nordea’s product portfolio and enables the distribution of the fund directly to Nordea’s customers. The threshold to invest becomes lower as investors can subscribe for the fund starting from an investment of EUR 5,000.

“CapMan’s strong know-how and specialised alternative assets expertise, including expertise in real estate, broadens Nordea’s investment product offering and provides access to a high-quality Nordic real estate fund for Nordea’s wealth management customers. CapMan also has other products positioned for professional investors that we can include in our product offering at a later stage. Co-operation with strong fund managers is important for Nordea as we want to maintain our position as the best and most awarded wealth manager in the Nordic countries also in the future,” says Tanja Eronen, Co-head, investment products at Nordea.

“We are extremely pleased with the co-operation with Nordea, which is a great example of the execution of our strategy. The distribution agreement allows a more diversified group of investors to benefit from the local expertise and networks of our Nordic real estate team. In the future, we may expand the product portfolio offered through partners also to other product categories,” says Joakim Frimodig, CapMan’s CEO.

CMNPI is an open-ended investment fund (non-UCITS) which accepts new subscriptions on a quarterly basis. The fund enables easy access to the Nordic real estate market by increasing the allocation into alternative asset classes through the diversification of the portfolio by geography and property type. The fund focuses on stable income generating properties in the largest and most liquid Nordic cities with solid long-term growth fundamentals. The fund’s assets are professionally managed commercial properties, such as office, logistics and light industrial properties.

The fund is managed by CapMan AIFM Ltd, an alternative investment manager (AIFM) licensed and supervised by the Finnish Financial Supervisory Authority.

Additional information and KIIDs:
Mika Matikainen, Managing Partner, Head of CapMan Real Estate, tel. +358 40 519 0707
Tanja Eronen, Co-head, investment products, Nordea, tel. +358 40 7447482

https://www.capman.com/real-estate/nordic-property-income/

* Past performance is no guarantee for future returns. The value of the money invested in the fund can increase or decrease and there is no guarantee that all or any of your invested capital can be redeemed. Prior to making any investment decisions investors shall get acquainted with the relevant information materials concerning the fund as well as the risks associated with investing in the fund. The fund’s official information materials can be obtained from the website mentioned above.

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. More information at www.capman.com.

 

 

Categories: News

Tags:

Blackstone launches Mileway – largest last mile logistics real estate company in Europe

No Comments

Blackstone

London, 24 September 2019 – Blackstone announces today the launch of its pan-European last mile logistics real estate company, Mileway. The new company owns and operates approximately 1,000 logistics assets that have been acquired by real estate funds managed by Blackstone over the last several years.

Mileway’s logistics properties, which are predominantly located within and around major European cities serving the last mile needs of its tenant base, total more than 9 million square meters. The portfolio spans urban centers across Europe’s largest economies, including the UK, Germany, France, Spain, the Netherlands and the Nordics. The company will continue to expand its portfolio in existing and new markets.

Emmanuel Van der Stichele has been appointed the Chief Executive of Mileway.

James Seppala, Head of Blackstone Real Estate Europe:
“Mileway is a natural evolution of our European logistics strategy, which is one of our highest conviction, long-term investment themes. As the largest last mile logistics real estate company in Europe, Mileway will meet growing e-commerce-related demand for last mile logistics real estate, facilitate faster delivery times and support the growth of small and large businesses.”

Emmanuel Van der Stichele, CEO, Mileway:
“The growth of e-commerce and urbanization is intensifying the requirement for faster logistics solutions. Mileway is the number one gateway to urban markets, and we are uniquely positioned to help businesses shorten delivery times, grow their customer base and scale geographically.”

Emmanuel Van der Stichele was previously Fund Director of the Goodman European Logistics Fund, one of the largest European non-listed logistics funds with approximately €3.5 billion of assets under management. Dominiek Van Oost has been appointed Chief Operating Officer and Thomas ten Bokum will start as the new Head of Investment and Portfolio Management in October 2019.

Blackstone is one of the leading owners of logistics properties globally, with assets across North America, Europe and Asia. The launch follows a number of investments by real estate funds managed by Blackstone in the logistics sector globally. Since 2010, Blackstone has acquired nearly 1 billion square feet of logistics globally.

About Mileway
Mileway is the largest owner of last mile logistics real estate assets in Europe. It has a pan-European footprint, with approximately 1,000 assets across eight major European economies. Core markets of the UK, Germany, the Netherlands and France represent over 80% of the portfolio, with a growing presence in the Nordics and Southern Europe. The business is headquartered in Amsterdam, and has a dedicated team of over 150 employees, with a local presence in each of its markets.
To find out more, visit: www.mileway.com 

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, rental housing, office, hospitality and retail.

Contact:
Blackstone
Ramesh Chhabra / Alexandra Ritterman
Ramesh.Chhabra@blackstone.com / Alexandra.Ritterman@blackstone.com
+44 7738 935187 / +44 7778 487939

Mileway
Olga Kononova
Olga.Kononova@lmlogistics.com

Set featured image

Categories: News

Tags:

InfraRed NF leads second round of US$156m mezzanine financing deal for Fullsun International

InfraRed Capital Partners

InfraRed NF, a leading Greater China real estate investment manager, is pleased to announce a second round of financing to Fullsun International Holdings Group (“Fullsun International”), a Hong Kong-listed property developer, to fund the acquisition of multiple projects as part of a strategy to accelerate Fullsun International’s growth. Fullsun International is the listed vehicle of Fusheng Group whose residential contractual sales were c.RMB62bn (c.US$9bn) in 2018 according to Soufun.

The latest funding to Fullsun International brings the total capital provided by the InfraRed NF consortium to US$156m. The InfraRed NF consortium includes Metro Holdings Limited (a Singapore-listed company), Global Gate Capital, as well as a leading global alternative investment management firm and a leading Chinese financial institution.

The loan is secured on a portfolio of three ring-fenced projects comprising two residential mixed-use projects in Changsha and a residential project in Zhongshan, with additional credit enhancement provided from an office asset in Hong Kong. The existing portfolio has generated contractual sales of c.US$150m since January 2019.

The portfolio recently grew to include Zhongshan, part of the Greater Bay Area (“GBA”). The GBA is a cluster of 11 cities including nine cities in the Pearl River Delta, Hong Kong and Macau, with a total population of around 70 million. In 2018, the combined GDP of the GBA reached US$1.6 trillion, or 12% of the national economy, even though it is home to only 5% of Greater China’s population.

To date, InfraRed NF has completed 11 credit investments in excess of US$650m of capital in Greater China, seven of which have been exited. This new loan is a continuation of InfraRed NF’s investment strategy to concentrate its lending activity on projects in megahubs, which benefit from higher than national average GDP per capita, population growth rates, and infrastructure investment.

Grant Chien, Head of Special Situations Financing at InfraRed NF, commented:

“Building long term relationships and tailoring bespoke solutions for our partners are fundamental to our business. We are pleased to further extend our strategic financing to Fullsun International, and to collaborate with multiple global institutional investors for this transaction.

Focusing on cities with attractive demographic growth, strong affordability and infrastructure improvement helps to provide natural downside protection. With our latest investment in the Greater Bay Area, our portfolio companies are now present in four megahubs.”

Stuart Jackson, Chief Executive Officer of InfraRed NF, added:

“China’s long-term deleveraging continues to create compelling risk-adjusted returns for us in both the value-add and mezzanine space. This transaction provides further evidence of our leadership position in structuring private credit in Greater China.”

Categories: News

Tags: